Unite student property fund value rises

Student housing provider UNITE Group posted a 1 percent third quarter rise in the portfolio value of its UK Student Accommodation Fund, and said the sector was coping well in the face of economic headwinds.

The fund’s property portfolio was independently valued at 877 million pounds and the estimated net asset value at September 30 was 0.715 pounds per unit, a 0.4 percent rise since June 30.

“The fund’s performance in the third quarter of 2009 demonstrates the continued resilience of student accommodation and its ability to generate consistent occupational performance and rental growth despite challenging economic conditions,” said Chief Financial Officer Joe Lister …

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